Business News

iStock/Thinkstock(NEW YORK) – Microsoft founder Bill Gates was named the richest man in the world for the fourth straight year according to Forbes’ list of the richest people on the planet. Meanwhile, President Donald Trump slipped to No. 544.

The President dropped $1 billion in wealth over a two year span to $3.5 billion, while Gates rose to $86 billion.

Forbes cites a weak real estate market in Manhattan for the President’s drop.

The business magazine adds the number of billionaires rose 13% to 2,043 from 1,810 last year.

The number of billionaires climbed 223 since 2016, the largest jump in the 31 years Forbes has tracked billionaires on a global scale.

Warren Buffett, Jeff Bezos of Amazon, Amancio Ortega of Zara, and Mark Zuckerberg of Facebook are the top five richest people according to Forbes’ list.